assumed reinsurance definition
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- You can share it by copying the code below and adding it to your blog or web page. <a href=http://thelawdictionary.org/reinsurance-assumed/ title=REINSURANCE ASSUMED>REINSURANCE ASSUMED</a>. Written and fact checked by The Law Dictionary.
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- Life and Health Reinsurance Agreements Regulation 791-2 © 2002 National Association of Insurance Commissioners apply to assumption reinsurance, yearly renewable term reinsurance or certain nonproportional reinsurance such as stop loss or catastrophe reinsurance.
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Reinsurance sidecar Reinsurance sidecars, conventionally referred to as sidecars, are financial structures that are created to allow investors to take on the risk and return of a group of insurance policies (a book of business) written by an insurer or reinsurer (henceforth re/insurer) and earn the risk and return that arises from that business.
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Definition The sidecar reinsurance agreement is typically a quota share agreement. Sidecars are usually set up by an affiliated insurer or reinsurer and capitalized by equity and debt financing (often from hedge funds). The capital is invested and used to pay claims.
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- Definition: It is a process whereby one entity (the reinsurer) takes on all or part of the risk covered under a policy issued by an insurance company in consideration of a premium payment.
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- On finite Smarandache near-rings. In a recent report on finite reinsurance, Fitch Ratings noted that most arrangements that fall under the finite risk reinsurance umbrella are to lower reported losses or inflate reported surplus, but added that there is also no simple definition for this complex product.
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Reinsurance  Glossary This reinsurance glossary is provided with the understanding that it is neither designed nor intended to provide the reader with legal, accounting, investment, marketing, or other types of professional business management advice.
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C# - Data Types The reference types do not contain the actual data stored in a variable, but they contain a reference to the variables. In other words, they refer to a memory location. Using multiple variables, the reference types can refer to a memory location. If the data in the memory location is changed by one of the variables, the other variable automatically reflects this change in value. Example of built-in reference types are: object, dynamic, and string.
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Definition facultative reinsurance. A form of reinsurance whereby each exposure the ceding company wishes to reinsure is offered to the reinsurer and is contained in a single transaction. The submission, acceptance, and resulting agreement is required on each individual risk that the ceding company seeks to reinsure.
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- DEFINITION of 'Retrocession'. 1. The practice of one reinsurance company essentially insuring another reinsurance company by accepting business that the other company had agreed to underwrite. 2.The voluntary act of returning ceded property from one group to another.Retrocession can also be the result of a request to have property returned but, by definition, is not the result of a forced transaction.3. The process of differentiating or diversifying assets by consolidating and then subdividing them amongst a number of stakeholders.etrocession can also be the result of a request to have property returned but, by definition, is not the result of a forced transaction. 3. The process of differentiating or diversifying assets by consolidating and then subdividing them amongst a number of stakeholders.
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FRANCHISE DISCLOSURE DOCUMENT The Court specifically dealt with the meaning of ‘reinstatement’ awarded in terms of section 193 of the LRA. Nkabinde J, as she then was had the following to say: ‘The ordinary meaning of the word 'reinstate' is to put the employee back into the same job or position he or she occupied before the dismissal, on the same terms and conditions. ….
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- Definition of 'Reinsurance'. Definition: It is a process whereby one entity (the reinsurer) takes on all or part of the risk covered under a policy issued by an insurance company in consideration of a premium payment. In other words, it is a form of an insurance cover for insurance companies.
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Definition of 'stop loss reinsurance' Definition of 'stop loss reinsurance'. stop loss reinsurance in Insurance. Stop loss reinsurance is a form of reinsurance under which the reinsurer pays the cedant's losses in any year over a particular percentage of the earned premium. loss, loss, reinsurance Collins English Dictionary.
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Implied Assumption of Risk Law and Legal Definition Implied assumption of risk exists when “a plaintiff voluntarily encounters a risk emanating from a defendant's conduct with a full understanding of the possible harm to himself and unreasonably consents to the risk under the circumstances.” Dockery v. United States, 2009 U.S. Dist.
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Reinsurance Many reinsurance placements are not placed with a single reinsurer but are shared between a number of reinsurers. For example, a $30,000,000 excess of $20,000,000 layer may be shared by 30 or more reinsurers.
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Reinsurance The parties to the reinsurance contract are the reinsurer, the reinsured, and the original policyholder. The reinsurer is the third party or the company issuing the reinsurance policy.
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Internal Revenue Bulletin: 2013-22 Indemnity reinsurance means an agreement between one or more reinsuring companies and a covered entity under which (1) the reinsuring company agrees to accept, and to indemnify the issuing company for, all or part of the risk of loss under policies specified in the agreement, and (2) the covered entity retains its liability to, and its contractual relationship with, the individuals whose health risks are insured under the policies specified in the agreement.
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- What is EXCESS OF LOSS (XOL) AGREEMENT? A REINSURANCE arrangement where a REINSURER assumes RISKS and returns in specific horizontal or vertical layers; depending on the magnitude of losses and the sequence and level of ATTACHMENT a reinsurer may or may not face some CESSION and allocation of losses on each loss event. See also PROPORTIONAL AGREEMENT, QUOTA SHARE, SURPLUS SHARE.
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assume verb (used with object), assumed, assuming. 1. to take for granted or without proof: to assume that everyone wants peace. Synonyms: suppose, presuppose; postulate, posit. 2. to take upon oneself; undertake: to assume an obligation.
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What does ALAE stand for? The intent of the reinsurance provided by the captive was to reinsure nearly 100% of all indemnity and allocated loss adjustment expense for the parent's risk, yet the captive contested the contract on the basis of ambiguous language.
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- 2005, Q32. a. Define retroactive reinsurance (0.5 point) -. For half point problem like this, model answer reads 'Retroactive reinsurance is a transaction which transfers liabilities on losses that have already occurred to an assuming company using present value techniques to account for the time value of money. The transaction increases the surplus of the ceding company'.
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What is reinsurance? The ceding company and the reinsurer enter into a reinsurance agreement which details the conditions upon which the reinsurer would pay a share of the claims incurred by the ceding company. The reinsurer is paid a reinsurance premium by the ceding company, which issues insurance policies to its own policyholders.
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- Cession The amount of insurance risk transferred to a reinsurer by a ceding. company; may be the whole or a portion of a single risk, defined policy or. defined division of a policy as agreed. Cessions Limit The capped amount of catastrophe-exposed business ceded to the. reinsurance contract.
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- ( Insurance : Reinsurance ) Reinsurance is insurance protection taken out by an insurer to limit its exposure to losses on an original insurance contract. A property insurer may not be able to buy reinsurance to protect its own bottom line unless it keeps its potential maximum losses under a certain level.
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About Us Oxbridge Re Holdings Limited. About Us. We are a Cayman Islands reinsurance holding company that provides reinsurance business solutions primarily to property and casualty insurers in the Gulf Coast region of the United States.
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Policy Title: Assumed Practices Please note: This policy will sunset on August 31, 2017. The revised Assumed Practices adopted June 2015 will be effective for all institutions on September 1, 2017. Foundational to the Criteria and Core Components is a set of practices shared by institutions of higher education in the United States.